Norway Parliament Rejects Wealth Fund Ban on Israeli-Occupied Territories

Norway's parliament has rejected proposals to have the country's $1.9 trillion sovereign wealth fund divest from all companies operating in the Israeli-occupied Palestinian territories, despite strong pressure from pro-Palestinian campaigners. Finance Minister Jens Stoltenberg emphasized that the fund follows an established ethical regime, divesting only from companies directly contributing to breaches of international law, rather than all companies present in the territories. The debate included emotional appeals from opposition lawmakers and protesters, highlighting concerns over the fund's role in supporting companies linked to the occupation. The UN special rapporteur on human rights in the Palestinian territories warned of the fund's investments sustaining the occupation's infrastructure, but Stoltenberg maintained confidence that Norway's investments comply with international law. The fund's ethical watchdog has recommended divestments from specific Israeli companies implicated in the occupation, such as a petrol station chain and a telecom provider. Overall, the Norwegian government continues to balance ethical considerations with its investment strategy, resisting a full divestment despite political and public pressures.